Myriad Genetics (NASDAQ:MYGN) Given New $11.50 Price Target at Piper Sandler

Myriad Genetics (NASDAQ:MYGN) had its price target lowered by analysts at Piper Sandler from $14.00 to $11.50 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 11.22% from the company’s previous close.

A number of other research analysts have also recently commented on MYGN. Craig Hallum started coverage on Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 price target on the stock. UBS Group dropped their price target on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Bank of America dropped their price target on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Monday. Stephens reaffirmed an “equal weight” rating and set a $20.00 price target on shares of Myriad Genetics in a research report on Thursday, January 16th. Finally, StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.82.

Myriad Genetics Stock Down 0.8 %

MYGN stock opened at $10.34 on Tuesday. The stock’s fifty day simple moving average is $13.15 and its two-hundred day simple moving average is $18.66. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 1-year low of $9.76 and a 1-year high of $29.30. The stock has a market cap of $941.30 million, a P/E ratio of -7.95 and a beta of 1.88.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The firm had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. During the same period in the prior year, the company earned ($0.12) EPS. Analysts expect that Myriad Genetics will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Myriad Genetics

Several institutional investors have recently modified their holdings of MYGN. Loomis Sayles & Co. L P increased its stake in Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock worth $59,973,000 after purchasing an additional 1,326,497 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Myriad Genetics by 58.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company’s stock worth $24,950,000 after purchasing an additional 668,429 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after purchasing an additional 440,107 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Myriad Genetics by 377.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company’s stock worth $7,533,000 after purchasing an additional 434,420 shares during the period. Finally, Iron Triangle Partners LP purchased a new position in Myriad Genetics in the 3rd quarter worth approximately $11,007,000. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.